The Red Bank Affordable Housing Corporation (RBAHC) was established in the spring of 2007, for the purpose developing affordable housing opportunities for low and moderate income families in the city of Red Bank. Upon its establishment, RBAHC entd into unique triune relationship that includes; the city of Red Bank and Red Bank Housing Authority. The Red Bank city administration acquired the land for RBAHC through funding provided by the Land Acquisition Act of New Jersey. The Red Bank Housing Authority will serve as a management agency for the property at the completion of construction and the RBAHC serves as developers of the project, as well as assisting potential homeowners with the income eligibility process and mortgage readiness
The basic goal o the RBAHC is to "Build the Communty of Red Bank through Affordable Home Ownership". Its initial project of thirty-six (36) Townhouse Units (known as Cedar Crossing at Red Bank) will provide homeownership opportunities to thirty six (36) qualified familes in our community. Phase I (20-2 and 3 bedroom units) were completd in the fall of 2011. Phase II (16 units) began construction in the spring of 2012.
Funding for the development was secured through three (3) primary sources: the Housing, Mortgage and Finance Agency of New Jerrsey, the CHOICE program of Monmouth County, and construction loans from Ivestors Bank.
Currently, Pastor Terrence K. Porter serves as the President/Chairman of the RBAHC Board of Trustees.
RBAHC Board of Trustees
Terrence K. Porter, President ~ Jean Mondesir, Treasurer Marlene Nelson, Secretary
Alexander Brown ~ Denzel Donaldson ~ Vanessa Munson ~ Frank Pino
" Building the Community
Red Bank Affordable Housing Corporation
Lottery Drawing ~ October, 2010
Phase I Contruction Begins
Monmouth County Community Development Program
NJ Housing and Mortgage Finance Agency
Here are some links
you might find useful...
The first new homeowners at Cedar Crossing